Russian President Vladimir Putin at the Novo-Ogaryovo residence outside Moscow on Thursday.

Russia Faces New E.U. Sanction Threat Amid On-Going Ukraine Crisis

A top European Union official said Saturday that the 28-nation bloc is set to decide new sanctions against Russia as Ukraine's president warned the conflict with Moscow threatens peace and stability for Europe as a whole. Ukraine's Petro Poroshenko said a strong EU response is needed because his country is subject to "military aggression and terror" with thousands of Russian troops and hundreds of tanks in eastern Ukraine. EU Commission President Jose Manuel Barroso said before an EU leaders' summit in Brussels that "sanctions are not and end in themselves" but a means to dissuade Russia from further destabilizing Ukraine.

Russia denies any military involvement in the fighting that has so far claimed 2,600 lives, according to U.N. figures. The United States and the EU have already imposed sanctions against Russian officials, several companies and the country's financial industry.